Kaival Brands Innovations has announced a significant securities offering, which includes 1,746,500 units of common stock paired with common warrants to purchase additional shares, and 2,175,000 pre-funded units that also come with common warrants. The offering is on a best-efforts basis with no minimum proceeds requirement for closing. Maxim Group LLC has been engaged as the exclusive placement agent for the offering. The common warrants have an initial exercise price of $1.53 per share, equal to the unit's offering price, and are exercisable immediately, expiring five years from the date of issuance. A 'Reset Price' feature is included, potentially lowering the exercise price after 30 days based on the average trading price preceding the Reset Date, with a floor set at...Show More

Kaival Brands Innovations has announced a significant securities offering, which includes 1,746,500 units of common stock paired with common warrants to purchase additional shares, and 2,175,000 pre-funded units that also come with common warrants. The offering is on a best-efforts basis with no minimum proceeds requirement for closing. Maxim Group LLC has been engaged as the exclusive placement agent for the offering. The common warrants have an initial exercise price of $1.53 per share, equal to the unit's offering price, and are exercisable immediately, expiring five years from the date of issuance. A 'Reset Price' feature is included, potentially lowering the exercise price after 30 days based on the average trading price preceding the Reset Date, with a floor set at $0.574 per share. The pre-funded warrants have an exercise price of $0.001 per share and are immediately exercisable. The offering also includes shares issuable upon the exercise of the pre-funded and common warrants. Kaival Brands' common stock is listed on the Nasdaq under the symbol 'KAVL', with a closing price of $2.87 per share as of June 20, 2024. The offering is expected to close one business day after sales commence, with securities delivered upon receipt of investor funds. The placement agent will receive a cash fee and reimbursement for certain expenses. The offering is subject to various international selling restrictions and has not been approved by regulatory authorities outside the United States.